Starboard Value

Starboard Value as of Sept. 30, 2011

Portfolio Holdings for Starboard Value

Starboard Value holds 16 positions in its portfolio as reported in the September 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Regis Corporation 15.5 $35M 2.4M 14.09
MIPS Technologies 11.4 $25M 5.2M 4.84
Extreme Networks (EXTR) 10.9 $24M 9.2M 2.65
SeaChange International 9.2 $20M 2.6M 7.70
Aol 7.6 $17M 1.4M 12.00
Openwave Systems 6.0 $13M 8.5M 1.56
Progress Software Corporation (PRGS) 5.9 $13M 743k 17.55
DSP 5.7 $13M 2.2M 5.90
Michael Baker Corporation 5.2 $12M 605k 19.13
Analogic Corporation 5.1 $11M 250k 45.41
Regis Corp Minn note 5.000% 7/1 4.5 $10M 8.9M 1.13
iShares Russell 2000 Index (IWM) 3.7 $8.2M 127k 64.30
Csr 3.6 $7.9M 610k 12.98
IRIS International 2.5 $5.6M 628k 8.97
ShoreTel 1.9 $4.2M 832k 4.99
Aviat Networks 1.4 $3.1M 1.3M 2.35